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Jan 26, 2013
01/13
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sorros says that angela merkel's efforts in the intervening 14 months have probably saved the euro. he gives her a lot of credit but he still isn't high on the future of the currency. he says that while germany has done very well by the currency, brought down the prices of its goods and made its exports affordable in many more places in the world, there is still serious problems with the euro that have to be taken into account. tonight i went to a high school here in this swiss alpine town where they invited all coppers, people attending the conference and locals to come hear european finance ministers talk about the future of the euro. and it's like discussing a patient that you thought was going to die and is now merely in intensive care. nobody likes to use the word austerity. the italian finance minister calls it responsibility. the german finance minister said oh, i don't like the sound of the word austerity it sounds so harsh in eng will be. i prefer the word discipline, which probably he jokes is a good german word. and earlier this week, the head of the imf called it consoli
sorros says that angela merkel's efforts in the intervening 14 months have probably saved the euro. he gives her a lot of credit but he still isn't high on the future of the currency. he says that while germany has done very well by the currency, brought down the prices of its goods and made its exports affordable in many more places in the world, there is still serious problems with the euro that have to be taken into account. tonight i went to a high school here in this swiss alpine town...
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the euro probably had some. what it did with the creation of the year when the countries came in when it really came in they had before the euro. industry to run twelve percent fourteen percent that had a devaluation premium in and when they joined the or suddenly they were all the. you know four percent four percent or below and this encouraged countries now with no dead it can add more to. give the wrong message because what they should have realized is that this these debts now are so euro debt no longer drachmas are clear that it can't devalued them away you're stuck with this and maybe in retrospect it might have been wise for countries of the high debt not to lock themselves into that fixed at her to have a devaluation in inflation before but nobody wanted to do that and if they. murdered risk not being able to make that deadline of nine hundred ninety nine of getting all those countries into the euro zone and and because. you know a moment the political moment may have been missed and may not have come up
the euro probably had some. what it did with the creation of the year when the countries came in when it really came in they had before the euro. industry to run twelve percent fourteen percent that had a devaluation premium in and when they joined the or suddenly they were all the. you know four percent four percent or below and this encouraged countries now with no dead it can add more to. give the wrong message because what they should have realized is that this these debts now are so euro...
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Jan 25, 2013
01/13
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WJZ
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sorros says that angela merkel's efforts in the intervening 14 months have probably saved the euro. he gives her a lot of credit but he still isn't high on the future of the currency. he says that while germany has done very well by the currency brought down the prices of its goods and made its exports affordable in many more places in the world, there is still serious problems with the euro that have to be taken into account. tonight i went to a high school here in this swiss alpine town where they invited all coppers people attending the conference and locals to come hear european finance ministers talk about the future of the euro. and it's like discussing a patient that you thought was going to die and is now merely in intensive care. nobody likes to use the word austerity. the italian finance minister calls it responsibility. the german finance minister said oh, i don't like the sound of the word austerity it sounds so harsh in eng will be. i prefer the word discipline which probably he jokes is a good german word. and earlier this week, the head of the imf called it consolidat
sorros says that angela merkel's efforts in the intervening 14 months have probably saved the euro. he gives her a lot of credit but he still isn't high on the future of the currency. he says that while germany has done very well by the currency brought down the prices of its goods and made its exports affordable in many more places in the world, there is still serious problems with the euro that have to be taken into account. tonight i went to a high school here in this swiss alpine town where...
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Jan 21, 2013
01/13
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FBC
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do i need to be looking at using the yen or the euro for example to do my investments? >> at times yes and at times no. you have to be very careful in terms of when you're picking to invest in the alternative vehicles, investing in the foreign markets. the nikkei has been on fire since, you know, this new regime there in japan has come on board. you know, soaring about 20% over the last couple of months. you know, a lot of talk has always been about china or some of these other emerging markets, your brazils, and so forth. you need to be careful due to the exposure. if you don't want to pick or choose, you can be invested in the markets and then do some things with currencies with us. cheryl: we will do segments and hear someone say well the dollar is the world's currency, that is in jeopardy, the dollar is falling out of favor, how much do you put into that? how much do you worry about that type of thing? >> let's consider how much stimulus we have already provided into the markets and let's really consider that the dollar really hasn't declined that much at all relati
do i need to be looking at using the yen or the euro for example to do my investments? >> at times yes and at times no. you have to be very careful in terms of when you're picking to invest in the alternative vehicles, investing in the foreign markets. the nikkei has been on fire since, you know, this new regime there in japan has come on board. you know, soaring about 20% over the last couple of months. you know, a lot of talk has always been about china or some of these other emerging...
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and staying with the currency markets russia may soon be dumping the euro the government has announced plans to review its foreign currency reserves you know gold piece going off as more russia's gold and currency reserves are estimated at around five hundred billion euros dollars it's quite a basket this needs protection especially in times of global economic turbulence right now around forty two percent of reserves are held in the euro denominated assets while the rest are mostly in u.s. but according to the prime minister the moscow is now considering swapping a part of its europe reserves for equities in other currents so when we see the usual bass decrease and other currencies enter the steaming the chinese yuan or even the russian ruble this could be a troubling signal for the euro especially if other currencies follow the trend like china which holds a quarter of its deserves in europe that's around eight hundred billion us dollars you can imagine the importance of these investments and what could happen if a domino effect takes place. i've got a piece going off reporting for us
and staying with the currency markets russia may soon be dumping the euro the government has announced plans to review its foreign currency reserves you know gold piece going off as more russia's gold and currency reserves are estimated at around five hundred billion euros dollars it's quite a basket this needs protection especially in times of global economic turbulence right now around forty two percent of reserves are held in the euro denominated assets while the rest are mostly in u.s. but...
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considering swapping a part of its europe reserves for equities you know other currents so when we see the euro bass decrease and other currencies enter the steamie the chinese yuan or even the russian people this could be a troubling signal for the euro especially if other currencies follow the trend like china which holds one of the europe that's around eight hundred billion us dollars you can imagine the importance of these investments and what could happen if a domino effect takes place and finally you see a hat some bro actually and it's really not just a hat it's a matter of brand protection colombia is taking steps to protect one of its national symbols the sum bro the country has banned of the sale of cheap chinese knockoffs that are killing the local brand chinese made imitations of the black and white some bros sell for half the twenty the price for a twenty excuse me half the twenty dollars price of the least expensive originals artisans spend up to fifteen days cutting sun drying and braiding cane leaves to make a single hat the chinese knockoffs are plastic and a machine made viola
considering swapping a part of its europe reserves for equities you know other currents so when we see the euro bass decrease and other currencies enter the steamie the chinese yuan or even the russian people this could be a troubling signal for the euro especially if other currencies follow the trend like china which holds one of the europe that's around eight hundred billion us dollars you can imagine the importance of these investments and what could happen if a domino effect takes place and...
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Jan 23, 2013
01/13
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the euro stocks 50 also down. dow jones slightly higher at 13,694 and eurodollars is unchanged. what japan is pulling out all of it stops in its fight against deflation. the new government announced a round of fiscal stimulus. >> promising unlimited monetary stimulus until inflation hits 2%. >> he got his way. the prime minister has been pressuring the bank of japan to do more to help economic recovery. the bond buying program is a big part of it. he said it will be a shift. >> together with the central inflation target of 2%. that is a revolutionary appointment that puts our fiscal policies on an entirely new foundation. >> over the last few decades, japan has bought deflation. previous efforts have failed. the bank of japan says they will print new money until prices began to rise. japan needs a vibrant economy to bring down its mountain of debt equivalent to 235% of gdp compared to 110% in the united states and spain's load of 90% of gdp. traders in tokyo appear unimpressed. the nikkei dropped on the day. >> it is a dispute that has been literally brewing for years. a top eur
the euro stocks 50 also down. dow jones slightly higher at 13,694 and eurodollars is unchanged. what japan is pulling out all of it stops in its fight against deflation. the new government announced a round of fiscal stimulus. >> promising unlimited monetary stimulus until inflation hits 2%. >> he got his way. the prime minister has been pressuring the bank of japan to do more to help economic recovery. the bond buying program is a big part of it. he said it will be a shift....
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Jan 24, 2013
01/13
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CNBC
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it's down against the euro, which is at 11-3358. and gold prices are down, $1,678.20 an ounce. >>> michael corbett says the bank has the right status to generate future growth. speaking at the world economic forum in davos, he tells cnbc that several years worth of revamping efforts are beginning to pay off. >> over the last year, we've simplified the company a lot the. we've become smaller, we've become simpler. >> corbat took over in october after the resignation of chief vickram pandit. >> very sharp in the stripes. >> yeah. >> the gegco, do we have a shot at him? >> no. >> that looks pretty good. there's product in there. what do you think, it's water? there is product. and, you know -- >> davos, they tend to walk out with wet hair and it turns to ice. >> but people don't look that good in davos, normally. >> that's true. >> he looks like a banker there. i think he has a lot of potential as far as his looks go. in the world economic forum in davos is in full swing. let's get to andrew buzzing in the mountains of switzerland. you
it's down against the euro, which is at 11-3358. and gold prices are down, $1,678.20 an ounce. >>> michael corbett says the bank has the right status to generate future growth. speaking at the world economic forum in davos, he tells cnbc that several years worth of revamping efforts are beginning to pay off. >> over the last year, we've simplified the company a lot the. we've become smaller, we've become simpler. >> corbat took over in october after the resignation of chief...
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value would reduce euro zone's g.d.p. growth by zero point eight percent. when this competitive devaluation actually could affect the russian ruble or so some experts say here with me i have katie pilbeam who had an opportunity to speak with an expert on this today so what did he say while it was david gray from pricewaterhouse coopers russia and i really wanted to address a topic with him because he's taken the world by storm and he says that's the interesting enough but for the ruble i'm for russia it may. i'm a straight saw resilience. looking for the real to be relatively stable in the i think i don't see big drops in energy prices and i think a flat to moderate energy price and gives us a stable ruble so i think the ruble will tend to attract sideways this year and b if you think about the level of volatility we've experienced in the past even two thousand and twelve was a relatively stable year by historic standards and i think we'll have an and pricewaterhouse coopers they've also just released that business of a f
value would reduce euro zone's g.d.p. growth by zero point eight percent. when this competitive devaluation actually could affect the russian ruble or so some experts say here with me i have katie pilbeam who had an opportunity to speak with an expert on this today so what did he say while it was david gray from pricewaterhouse coopers russia and i really wanted to address a topic with him because he's taken the world by storm and he says that's the interesting enough but for the ruble i'm for...
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Jan 24, 2013
01/13
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CNBC
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. >> the euro is really interesting here. every other country out there views the weak dollar as a problem except for the ecp. this is insanity on their part. even the bank of canada backed down on their hawkish commentary. the only country not doing this for the area is the eurozone. so this is awesome. even euro aussie fell quite a bit. then the little question of the uk pulling out of the eurozone. that's helping the euro stand tall even though these other currencies weakened quite a bit. >> what about the other levels? you weaken the chart and that is not far from 135. what kind of trade do you want to make? >> right. a real short term one and based on the ltro bank pay back tomorrow that we get out of the ecp. basically the mark set looking for a hundred billion on this. if it is above 125 if it is above above euros. so i will take a chance this things goes up so i want it buy at 133.25 and look for 150 point on the upside. again, short term trade. the ecb doesn't get it and should not be talking a stronger euro. >> you
. >> the euro is really interesting here. every other country out there views the weak dollar as a problem except for the ecp. this is insanity on their part. even the bank of canada backed down on their hawkish commentary. the only country not doing this for the area is the eurozone. so this is awesome. even euro aussie fell quite a bit. then the little question of the uk pulling out of the eurozone. that's helping the euro stand tall even though these other currencies weakened quite a...
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Jan 25, 2013
01/13
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KCSM
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euro stoxx 50 also higher. the dow jones industrial average also continuing the positive trend. the euro-dollar also trending positive, trading for $1.3370. >> a lot of optimism, despite all the optimism that seems to be brewing in davos in switzerland. it is a different story in spain, though. things just keep getting worse. unemployment is at its highest level ever recorded. 26% of the work force were registered as out of work in the last quarter of 2012. that's nearly 6 million people. >> the eurozone [applause] fourth largest economy is stuck in recession. the conservative government has pushed ahead with a tough austerity program to lower the country's deficit. critics say those spending cuts are directly to blame for the rise in unemployment. but there's a bit of bright news in the eurozone -- portugal has made an early debut back on the financial market, successfully raising 2.5 billion euros in a debt auction this week. >> the government had to pay only 4.9% in interest, signaling investors are more confident about the country's finances. portugal was forced to accept an
euro stoxx 50 also higher. the dow jones industrial average also continuing the positive trend. the euro-dollar also trending positive, trading for $1.3370. >> a lot of optimism, despite all the optimism that seems to be brewing in davos in switzerland. it is a different story in spain, though. things just keep getting worse. unemployment is at its highest level ever recorded. 26% of the work force were registered as out of work in the last quarter of 2012. that's nearly 6 million people....
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Jan 28, 2013
01/13
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CNBC
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people right now are constructive on the euro and stabilization of euro and constructive on possible growth. the name of the event was dynamic resilience, talks about the world recovering. i think these guys are going to be right, we will probably have a good stock market. this has been a well orchestrated rally, induced by central banks, my honest belief. if you get a buzz out of the federal reserve they say we will pull back a bit, the market will crack. >> any whiff or that, what happened in the month or so in the minutes spooked the market. >> a couple things going on. good fundamentals, accomodative fed. in the wave of a secular bull market. the good news is out-weighing the bad news right now and any slight bad news will trip up the market in the short term. it needs to be cautious here. >> let's bring up david beanco, chief equity strategist. welcome back to halftime. >> hello. good to see you. >> 1600 was the target used. anthony talked about resilient and talked about it in davos and could explain the stock marketed. >> resilience and since the recovery and recession we've s
people right now are constructive on the euro and stabilization of euro and constructive on possible growth. the name of the event was dynamic resilience, talks about the world recovering. i think these guys are going to be right, we will probably have a good stock market. this has been a well orchestrated rally, induced by central banks, my honest belief. if you get a buzz out of the federal reserve they say we will pull back a bit, the market will crack. >> any whiff or that, what...
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live from the world economic forum in davos friday was a pretty busy day here first the future of the euro zone was in focus with the president of the european central bank home mario drawee telling the audience that he thinks the european economy is going to recover and he sees that happening in the second half of this year he also says the question of austerity measures versus growth doesn't really make any sense to him he said the austerity measures are definitely quote by the avoidable the developing countries and to the emerging economies were also very much in the spotlight here today the most recent i'm out of data actually shows that the brics will grow five and a half percent this year that's definitely watch higher than the numbers we're going to see out of the euro zone so we asked to join ferraro verne's thing young what he thought about it and he said that global c.e.o.'s at the moment are actually starting to look beyond these so-called bricks for investment opportunities. and then now looking beyond the bricks. and actually cited for turkey indonesia mexico and south africa
live from the world economic forum in davos friday was a pretty busy day here first the future of the euro zone was in focus with the president of the european central bank home mario drawee telling the audience that he thinks the european economy is going to recover and he sees that happening in the second half of this year he also says the question of austerity measures versus growth doesn't really make any sense to him he said the austerity measures are definitely quote by the avoidable the...
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vote to head towards the exit i was his long awaited european speech indicted he plays many of those euro skeptics within his tory party there are many dieties u.k. business leaders for example say that even talking about an exit at this stage will create uncertainty and could scare away potential investors germany's chancellor angela merkel has said that perhaps a compromise is needed but other e.u. members are less sympathetic than mark says that the e.u. is not a self-service buffet where members can cherry pick the legislation that happens speaking to said the e.u. would simply become a mess so while david cameron appears to solve any internal squabbles within his own party particularly appeasing those euro skeptics it also appears that he is driving a wedge between britain and other e.u. member states andrew farmer. london. european parliament member and deputy leader of the u.k. independence party paul nuttall says the prime minister is once again just trying to delay solving the long standing issue. the point is that it's going to be nigh on impossible we've had. the president of t
vote to head towards the exit i was his long awaited european speech indicted he plays many of those euro skeptics within his tory party there are many dieties u.k. business leaders for example say that even talking about an exit at this stage will create uncertainty and could scare away potential investors germany's chancellor angela merkel has said that perhaps a compromise is needed but other e.u. members are less sympathetic than mark says that the e.u. is not a self-service buffet where...
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half percent this year that's definitely much higher than the numbers we're going to see out of the euro zone so we asked to join ferraro verne's thing young what he thought about and he said that global c.e.o.'s at the moment are actually starting to look beyond these so-called bricks for investment opportunities. and in now looking beyond the bricks. and actually cited for turkey indonesia mexico and south africa and they the c.e.o.'s eighty two percent of them said they plan to invest for the first time or incremental investment in those markets so the brics will always have the luster they have eighty five percent or so of the developing world g.d.p. but i think now what companies are realizing that you can't have a one size fit all two to the emerging markets and they're looking beyond the brics for where the niche is that they can really find some opportunity unique opportunity. to africa could end deed be the next hot spot of economic growth as a touch on political reforms. most news from africa is usually bad poverty droughts rampant aids conflicts but a real game changer is ofte
half percent this year that's definitely much higher than the numbers we're going to see out of the euro zone so we asked to join ferraro verne's thing young what he thought about and he said that global c.e.o.'s at the moment are actually starting to look beyond these so-called bricks for investment opportunities. and in now looking beyond the bricks. and actually cited for turkey indonesia mexico and south africa and they the c.e.o.'s eighty two percent of them said they plan to invest for...
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Jan 23, 2013
01/13
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FBC
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the euro fell to $1.32 in intraday trading. there was speculation he was selling the euro, that expect investor. david: a huge day for apple, which of course is in most peoples portfolipeople's portfor another. in the pits of the cme, and our market panel to talk over apple and all the other news of the day. jerry leavy and david wright, managing director at sierra investment management. tim at the cme. i would say everybody is focused on apple right now. what are expectations in chicago? >> everybody is focused, but i am not so sure it is this quarter. what they will do for the quarter and in march. it will really be key, specifically apple lowers expectations, but the concern is they might not get away with it this time. having said that, why i say this quarter may not be so big. they were originally looking for $11.77 or sure. they have already raised estimates, the report the other day now expectations are a little bit for this quarter, so watch the march quarter. the guidance they give will be the focus. sandra: we're also
the euro fell to $1.32 in intraday trading. there was speculation he was selling the euro, that expect investor. david: a huge day for apple, which of course is in most peoples portfolipeople's portfor another. in the pits of the cme, and our market panel to talk over apple and all the other news of the day. jerry leavy and david wright, managing director at sierra investment management. tim at the cme. i would say everybody is focused on apple right now. what are expectations in chicago?...
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s prime minister offering britain a say on exit in the euro is the issue causing tension i report on that in just a couple of minutes here on tape also struggling to dig themselves out of debt as payday loans cash strapped families with promises of instant money and other stories right after this break. well with. out of sight but still on our minds. let's try to live smarter with smartphones you never know what some people are hiding things can be sure to prove to the molecular level learned that what the doctor ordered is often based on secrets under our skin let us shine the light on a kid in the world. of. the future. me it is eve he. says. choose your language call it makoto in federal court today still some of the. treatments look the consensus get closer. to the opinions the bigger a couple of. the stories get in high winds chills the access to officers. least be cool language. programs and documentaries in arabic it's all here on. reporting from the world talks books that will be ip interviews intriguing story for you. in trying. to find out more visit our big. dog called. wh
s prime minister offering britain a say on exit in the euro is the issue causing tension i report on that in just a couple of minutes here on tape also struggling to dig themselves out of debt as payday loans cash strapped families with promises of instant money and other stories right after this break. well with. out of sight but still on our minds. let's try to live smarter with smartphones you never know what some people are hiding things can be sure to prove to the molecular level learned...
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countries will be coming as weaker because of the current situation with the european union and the euro zone crisis and the fact that countries did not have great control over their own economic policies so he wasn't mincing his words today he also went on to say that the british public felt disillusioned with the european union and felt disappointed with the lack of apparently democracy and they can't ability from all the directives that get handed to other member states from brussels so what are you saying to a lot of people did sound quite confrontational but he was also trying to stress the fact that look please don't denounce britain for having nation you style of thinking should be encouraged and he believes that with this he might be able to make europe a better place. to certainly the speech has been in the making for what because we know what her but i guess at the end of the day there was no avoiding the major issues at hand. or not really because david cameron has been put under a lot of pressure from euro skeptics from within his own party over the last few months they've en
countries will be coming as weaker because of the current situation with the european union and the euro zone crisis and the fact that countries did not have great control over their own economic policies so he wasn't mincing his words today he also went on to say that the british public felt disillusioned with the european union and felt disappointed with the lack of apparently democracy and they can't ability from all the directives that get handed to other member states from brussels so what...
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Jan 25, 2013
01/13
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LINKTV
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a year ago, skepticism about the euro. today, people are happy with what they see. things have improved. there are reasons for that. it is not just a mood swing. there are a least cordial good reasons -- four good reasons. the countries in the south have made real adjustments. exports are growing. the fiscal deficits are getting smaller. that is adjustment of the national level nationthat is necessary. we have much tougher rules on how to coordinate our government policies. there was criticism about the design of the union in europe that monetary policies are the centralized. achilleas if we have coordination. that is better now that used to be. -- that can only work if we have coordination. that is much better now the is to be paid capital has gone up for most banks. we're supporting countries through the imf. there is restructuring in greece and portugal. we have a special program in spain. we have closed some situational gaps in the design of the union. we created the bailout fund. they are doing more things about omt. we work together. ecb provides money if need
a year ago, skepticism about the euro. today, people are happy with what they see. things have improved. there are reasons for that. it is not just a mood swing. there are a least cordial good reasons -- four good reasons. the countries in the south have made real adjustments. exports are growing. the fiscal deficits are getting smaller. that is adjustment of the national level nationthat is necessary. we have much tougher rules on how to coordinate our government policies. there was criticism...
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Jan 24, 2013
01/13
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CNBC
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euro/dollar, 1.3331. the eurozone did report that the current account surplus was the biggest on record at a level of something like 13 billion euros. repayments are likely to keep the ecb and effectively in a tightening mode. those two things put upward pressure on the euro. dollar/yen, a big move today. 1.16%. now, that means the yen is weakening against the dollar again and it comes after japan's trade deficit in 2012 was a record high. it follows a couple of days of yen strength. the aussie/dollar shedding 0.5%. apple's first quarter profits were relatively flat. it can still be forecast by looking at the bond wall there. to look at that corporate story which is, of course, driving much of the trade action we're seeing this morning. apple's fourth quarter profits relatively flat. they did beat forecasts. revenues were shy of estimates. it was a record, but it lags to the 50 million figure analysts had i'd. shares in china doubled. ipads are abruftly in line with forecasts. in a break with ra decision,
euro/dollar, 1.3331. the eurozone did report that the current account surplus was the biggest on record at a level of something like 13 billion euros. repayments are likely to keep the ecb and effectively in a tightening mode. those two things put upward pressure on the euro. dollar/yen, a big move today. 1.16%. now, that means the yen is weakening against the dollar again and it comes after japan's trade deficit in 2012 was a record high. it follows a couple of days of yen strength. the...
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vote to head to the exit i was his long awaited european speech and died at the place many of those euro skeptics within his tory party there are many u.k. business leaders for example say that even talking about an exit at this stage will create uncertainty and could scare away tension investors germany's chancellor angela merkel has said that perhaps a compromise is needed. a less sympathetic mark says the e.u. is not. cherry pick the legislation that happens he said the e.u. would simply become a mess so while david cameron is his to solve any internal squabbles within the party taking place in the euro skeptics it also appears that he is driving a wedge between britain and other e.u. member states and. london. could have you with us here at r.t. today and probably for the third time by any minute netanyahu is a right wing blogger does end up winning the general election the faces of the former coalition to back his plans to tackle what he sees as the ongoing iranian nuclear threat and more on that and other stories so after a short break. more news today violence is once again flared
vote to head to the exit i was his long awaited european speech and died at the place many of those euro skeptics within his tory party there are many u.k. business leaders for example say that even talking about an exit at this stage will create uncertainty and could scare away tension investors germany's chancellor angela merkel has said that perhaps a compromise is needed. a less sympathetic mark says the e.u. is not. cherry pick the legislation that happens he said the e.u. would simply...
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Jan 25, 2013
01/13
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FBC
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>> yeah, look, i started the week with the impression day one day two that the whole euro crisis and the beginnings of a recovery was one of my early impressions but tail end of the week the common theme that's running through all of that of course is the jobs crisis and especially around youth and youth unemployment. i would tell you that it's on everyone's lips that we're seeing a whole generation of young people, especially here in europe which is a very big topic, but it's also a big problem in the emerging world. i would also say an unintended consequence of america's energy advantages being talked about in nearly every meeting. unintended consequence that america now suddenly won't be buying all this oil. that america won't be sending all their troops. that america won't. i dare say it's been talked about more here than it is in america. liz: let's drill down on that, so to speak. and that is because we are apparently going to be the world leader, take over from saudi arabia as the biggest output nation of oil. to me that is quite fascinating. but you say a disadvantage because
>> yeah, look, i started the week with the impression day one day two that the whole euro crisis and the beginnings of a recovery was one of my early impressions but tail end of the week the common theme that's running through all of that of course is the jobs crisis and especially around youth and youth unemployment. i would tell you that it's on everyone's lips that we're seeing a whole generation of young people, especially here in europe which is a very big topic, but it's also a big...
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Jan 27, 2013
01/13
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CNN
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there's a sense of calm, a relief that many storms that seemed like they might be overwhelming, like the euro crisis have been weathered. people from america are optim t optimist optimistic, those from emerging markets more so. but everywhere there is a sense of caution. mpw seeing -- released this week, 452% saw no change from the current tepid economic environment. 28% saw a decline and 18% said things will get better. it is still an improvement from last year, when 48% predicted a decline. the last few years of recovery, followed by slowdowns of political crisis, of new terror attacks from north africa, have made people wary of excessive optimism. these are stable, crises have been contained. there's some growth on the horizon, but no one's ready to declare that we have turned any corners. there are no bulls in davos this year, no countries taking center stage. one symbol of the mood, the big splashy parties that companies like google used to throw have been quietly discontinued. not that google couldn't afford it, they just had that their first year with $50 billion in revenue. it's a sen
there's a sense of calm, a relief that many storms that seemed like they might be overwhelming, like the euro crisis have been weathered. people from america are optim t optimist optimistic, those from emerging markets more so. but everywhere there is a sense of caution. mpw seeing -- released this week, 452% saw no change from the current tepid economic environment. 28% saw a decline and 18% said things will get better. it is still an improvement from last year, when 48% predicted a decline....
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Jan 24, 2013
01/13
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CNBC
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>> well, i think germany has done what was necessary to al w allow -- to make it clear that the euro is here to stay, and that's been a tremendous relief for the markets. so calm has returned. the european banking system, the interbank market, has revived so there's a general sense of let's say almost euphoria that the crisis is over. i think that is somewhat premature. because the fundamental internal inconsistencies in the dis-tim have not been addressed, and actually, therefore, you face political dangers. the euro is transforming the european union into something very different from the original conception which was a voluntary association of equal states, and instead of that, the financial created a two-class system where the euro, the creditors and debtors and the creditors are in charge. the political situation i think is going to get worse. i think the next year, next two years perhaps, are going to be very cuffy if the european union survives forever. i don't think europe can live politically with are a situation where there's are a center, namely germany, and countries like
>> well, i think germany has done what was necessary to al w allow -- to make it clear that the euro is here to stay, and that's been a tremendous relief for the markets. so calm has returned. the european banking system, the interbank market, has revived so there's a general sense of let's say almost euphoria that the crisis is over. i think that is somewhat premature. because the fundamental internal inconsistencies in the dis-tim have not been addressed, and actually, therefore, you...
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crowds and euro skeptics bay how can he still placate the to do you think i mean is there frankly is there a common solution and i think that the common solution will be to hold referendum in this parliament and in britain the public in britain will have the opportunity to vote on this issue and i think we should vote no i mean i think we should come out because britain would be a stronger nation outside of the european union yes let's try to trade with our grouping partners be friends with them but what we don't want is to be dictated to by brussels which in effect initiate seventy five percent of the laws of this country all we want and you care is for those decisions that affect this country to be taken by our democratically elected representatives at westminster seven i don't think that's too much to ask at all m.e.p.a. from the u.k. independence party many thanks indeed for coming on the program. thank you. well it's good to have you with us here in our team today we are as usual coming to you live from moscow many more stories to come for you a short break. what mistry is hidde
crowds and euro skeptics bay how can he still placate the to do you think i mean is there frankly is there a common solution and i think that the common solution will be to hold referendum in this parliament and in britain the public in britain will have the opportunity to vote on this issue and i think we should vote no i mean i think we should come out because britain would be a stronger nation outside of the european union yes let's try to trade with our grouping partners be friends with...
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Jan 28, 2013
01/13
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> you hear a lot of bad press about europe but europe has a deficit and i want to be exposed to the euro. mostly because i think that the policies of the federal reserve is identical to those of european central bank and euro has been doing very well. and i think, i smell, everybody is bearish on something. but the story doesn't match the numbers. >> bob pisani, good to see you again. in the 2008 crash, is risk in your opinion still underpriced. and if it is, how do you explain to people to protect themselves? >> unless people have been burned, you can't convince them to get protected. and tail risks have traditionally been cheap depending on which tail. and what people fail to understand is that owning tail protection allows me to take risk elsewhere. it is not like what i spend on the tail is the overall package. it is very favorable when you have equities more attractive than bonds and other things. you need spend premium. the money i get from dividend and hedges and that's why i henl myself and i don't have to worry about anything. deep out of the money puts. >> deep out of the money
> you hear a lot of bad press about europe but europe has a deficit and i want to be exposed to the euro. mostly because i think that the policies of the federal reserve is identical to those of european central bank and euro has been doing very well. and i think, i smell, everybody is bearish on something. but the story doesn't match the numbers. >> bob pisani, good to see you again. in the 2008 crash, is risk in your opinion still underpriced. and if it is, how do you explain to...
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Jan 31, 2013
01/13
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they booked a $1 billion euro litigation charge, almost 2 billion euros to pay for restructuring. sylvia is in frankfurt, rejoins us. plenty of focus, as well, on the capital levels, sylvia. >> that's at least what the markets are clearly focused on. the write-downs or the risk provisions, not a big surprise. maybe the number was a surprise. but they didn't -- clearly didn't put enough money aside in the previous quarters. so maybe that was even some good news for the taking out of there, finally they woke up to the reality that they might have to pay out more than they originally planned. the operational side, not good, but no really nasty surprises. restructuring costs, again, of postbank of the higher side of the market has expected. the numbers were below expectations. but ultimately, the market gave it almost a thumbs up and saying, okay, we hone in op on the capital numbers on the key data. we hone in on the statement from the ceos, from theco ceos at the press conference. we don't need to go into the capital markets with a capital increase. that was taken as positive news.
they booked a $1 billion euro litigation charge, almost 2 billion euros to pay for restructuring. sylvia is in frankfurt, rejoins us. plenty of focus, as well, on the capital levels, sylvia. >> that's at least what the markets are clearly focused on. the write-downs or the risk provisions, not a big surprise. maybe the number was a surprise. but they didn't -- clearly didn't put enough money aside in the previous quarters. so maybe that was even some good news for the taking out of there,...
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Jan 25, 2013
01/13
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euro/dollar is about 1% higher on the back of that news. the ifo institute, current conditions, 108. headline index, 104.2 versus 103. ross, what do you make of it? >> well, you can see what's going on with the euro there, 134. let's get more from finland. good to see you, alex. thanks indeed for joining us. the defense here that we're no longer in crisis fighting mode, the question as we look at data in germany, the question is whether we've made a fundamental turn, a fundamental change and whether things are temporary. >> i certainly hope we've made a fundamental turn. if this crisis is 100 steps, i'd say we are about 60 steps down the road. now, really, we have the fundamental institutional things in place. so that has calmed down the markets. what we now need is political stability. i think the italian election is one thing and the second thing we need in europe more than anything else is -- >> yeah. we thought stabilizing the crisis in terms of the bond spreads playing out was hard. getting growth into europe looks to be an almost impo
euro/dollar is about 1% higher on the back of that news. the ifo institute, current conditions, 108. headline index, 104.2 versus 103. ross, what do you make of it? >> well, you can see what's going on with the euro there, 134. let's get more from finland. good to see you, alex. thanks indeed for joining us. the defense here that we're no longer in crisis fighting mode, the question as we look at data in germany, the question is whether we've made a fundamental turn, a fundamental change...
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unless we join the euro this isn't going to happen and we're not going to have believed the false promises and the false concerns that european politicians and big businesses are actually going to throw as i mean there's an unholy alliance that sees people forming between old conservatives with large corporations with members of the labor party who want to frighten the people of this country to say that they can't survive on the road but we're still the sixth largest trading nation in the world so yes the public in this country know that there is a problem out there they understand the arguments and they're not going to be fooled this time by a political elite and what you not see north korea going nuclear over sanctions announces a slew of major ballistic an atomic weapons test so all targeted against america is being behind fresh u.n. impose penalties. but for now in the dead of winter it certainly pays to be careful on russia's icy roads and shocking footage has now gone viral of what can happen if you're not used to by martin it takes us through the drama. the road is clear he decides
unless we join the euro this isn't going to happen and we're not going to have believed the false promises and the false concerns that european politicians and big businesses are actually going to throw as i mean there's an unholy alliance that sees people forming between old conservatives with large corporations with members of the labor party who want to frighten the people of this country to say that they can't survive on the road but we're still the sixth largest trading nation in the world...
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Jan 25, 2013
01/13
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FBC
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the euro is rallying against the dollar. it is steady eddie off the european central bank, said banks will pay back about $184 billion in three-year emergency loans. that's more than the analysts expected by the way. so will the euro be the rock star currency of 2013? joining me now is axel merk, chief investment officer of merk investments. before we get the currency, axle, we talked about a major amount of money in the u.s., 100 billion in the first week of this year. it is a bit of a mystery, but you have a theory. >> just tweeted the explanation if you want to look that up. basically one. crisis measures is expiring fdic gave unlimited insurance to any noninterest bearing accounts. that guaranty is gone now. so people are taking their money elsewhere. as simple as that. there is no big mystery behind it. ashley: no big mystery. >> talking about a hundreds of billions here and talking about the euro, as you mentioned, almost $200 billion euros being paid back. that is the equivalent of mopping up liquidity. in the u.s. we
the euro is rallying against the dollar. it is steady eddie off the european central bank, said banks will pay back about $184 billion in three-year emergency loans. that's more than the analysts expected by the way. so will the euro be the rock star currency of 2013? joining me now is axel merk, chief investment officer of merk investments. before we get the currency, axle, we talked about a major amount of money in the u.s., 100 billion in the first week of this year. it is a bit of a...
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Jan 23, 2013
01/13
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FBC
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when you hear about the euro zone problems, they are bubbling through, that is trouble pushing foreign banks to possibly spinoff their u.s. subsidiaries like the asset management something i have been hearing for months and months now. that's apparently it's one of the names. i'm not saying these banks are in particular in play. bankers at the wall street firms are definitely approaching these players saying you should do a deal. they are listening. when you put it all together, the macro scenario, increased regulations, euro zone problems, low trading volumes, low interest rate so you can borrow cheaply, guess what happens. you don't make enough money. when you have low interest rates you don't make a lot of money on your investment. you put all that together and you have a situation right for mergers. i don't know they will merge with ameritrade, but is there a need for two of them right now? cheryl: probably not. they traded higher at 2012 like the big guys did. so many deals going on, they were doing their banking profits, c. can have more power houses, medium-size. charlie: they w
when you hear about the euro zone problems, they are bubbling through, that is trouble pushing foreign banks to possibly spinoff their u.s. subsidiaries like the asset management something i have been hearing for months and months now. that's apparently it's one of the names. i'm not saying these banks are in particular in play. bankers at the wall street firms are definitely approaching these players saying you should do a deal. they are listening. when you put it all together, the macro...
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Jan 30, 2013
01/13
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CNBC
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euro/dollar above 135. the 14-month high for euro/dollar. and dollar/yen 91.17. a two-year high this morning. we heard jillian gillard talk being the aussie dollar, down at 104.36. hasn't done a lot of on that news. and we have the latest out of singapore. >>> thank you, ross. a positive day for asian borses with the weaker yen pushing the nikkei higher by over 2% to close above the 11,000 level for the first time in nearly three years. yahoo! japan jumped 17% today, too, some four-year high after the share buyback plan and lifted its full-year operating profit in dividend forecasts. >>> in china the shanghai composite extended a three-day winning streak ending higher by 1%. beijing announced new measures to open its stock market to taiwan, boosting sentiment. the property index jumped 2% lifted by talk that beijing is willing to tolerate mild home price increases. hong kong gained % helped by china-related counters in the gaming sector. lenovo retreated 2.7% ahead of earning. after the bell, the p.c. maker reported another record quarter in both sales and earnin
euro/dollar above 135. the 14-month high for euro/dollar. and dollar/yen 91.17. a two-year high this morning. we heard jillian gillard talk being the aussie dollar, down at 104.36. hasn't done a lot of on that news. and we have the latest out of singapore. >>> thank you, ross. a positive day for asian borses with the weaker yen pushing the nikkei higher by over 2% to close above the 11,000 level for the first time in nearly three years. yahoo! japan jumped 17% today, too, some...
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Jan 22, 2013
01/13
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. >> do you expect the euro to remain weak for the rest of the year? >> i expect the eurozone crisis to remain weak. people will look carefully at special situations across europe. >> and best performer of 2013? >> it's impossible to tell. let's say the whole of the market. >> very diplomatic answer there. david simple sop, thank you very much for coming by. some hopeful signs there. straight ahead on the program, talking of hopeful signs, our next guest is at u.s. oil production not seen since the 50s. what does it mean? we'll explore that when we come back. . >>> welcome back to "worldwide exchange." these are your headlines. the bank of japan steps up its easing agenda under heavy government pressure, doubling its inflation target and promising open ended qe starting next year. >>> president obama lays out a vision for his second term in his innagul address. >>> and this is the face of the new mr. euro. earlier, we had a nine to one ratio of decliner toes advancers.inaugural. earlier, we had a nine to one ratio of decliner toes advancers. the ftse d
. >> do you expect the euro to remain weak for the rest of the year? >> i expect the eurozone crisis to remain weak. people will look carefully at special situations across europe. >> and best performer of 2013? >> it's impossible to tell. let's say the whole of the market. >> very diplomatic answer there. david simple sop, thank you very much for coming by. some hopeful signs there. straight ahead on the program, talking of hopeful signs, our next guest is at u.s....
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the euro zone's point will be the subject to close proceedings in the plush surroundings of davos it comes amid wide to turn around europe as the u.k. prime minister tries to smooth ties with his e.u. partners they've been angered by his promise to let britain hold a referendum on was a to leave the union and his case if it is following the world economic forum for us case here very nice to see you so what's giving the delegates a headache in davos on their last day. well aside from too much champagne i would suspect we've got president mario draghi he is going to be speaking today he would take to the stage and address the current issues in europe particularly to do with inside tonight growth this comes a day after prime minister david cameron from britain he was talking about how to deal with tax avoiders and also we had german chancellor angela merkel she was saying there can be no leeway and no let up in the spending cuts despite european union's warning that there is social unrest in the likes of greece and also her homeland as well germany where people to have been protesting a
the euro zone's point will be the subject to close proceedings in the plush surroundings of davos it comes amid wide to turn around europe as the u.k. prime minister tries to smooth ties with his e.u. partners they've been angered by his promise to let britain hold a referendum on was a to leave the union and his case if it is following the world economic forum for us case here very nice to see you so what's giving the delegates a headache in davos on their last day. well aside from too much...
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unless we join the euro this isn't going to happen and we're not going to believe the false promises and the false concerns that european politicians and big businesses are actually going to throw as i mean there's an unholy alliance that seems to be forming with three old conservatives with large corporations with members of the labor party who will want to frighten the people of this country to say that they can't survive on their own but we're still the sixth largest trading nation in the world so yes the public in this country know that there is a problem out there they understand the arguments and they're not going to be fooled this time by a political elite. all of britain's or may not be falling to the tricks of politicians any time soon but according to the kaiser report there is somebody they are being fooled by sixteen thirty g.m.t. max keiser and stacy herbert lay bare the state of the british economy. talk to pick up bulk of r.b.s. is five hundred million pound live or fine. that's right the bank while it was owned by the people went out and to show their appreciation and
unless we join the euro this isn't going to happen and we're not going to believe the false promises and the false concerns that european politicians and big businesses are actually going to throw as i mean there's an unholy alliance that seems to be forming with three old conservatives with large corporations with members of the labor party who will want to frighten the people of this country to say that they can't survive on their own but we're still the sixth largest trading nation in the...
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the euro zone's plight will be the subject to close proceedings in the plush surroundings of doubles it comes amid wide attention in europe as the u.k. prime minister tries to smooth ties with the e.u. partners after promising he'd lead britain hold a referendum on whether to leave beginning in ati's case it pilgrim reports. in davos switzerland those currency only agenda and most anticipated speech of the day they had to come from british prime minister david cameron of the he announced a referendum on membership of the e.u. and his desire to win a new settlement for your opening credits atlantic concessions from brussels as well but when he came face to face with the leaders interestingly if you think blacks track flight he was softer and his approach and he said he was no way turning his back on europe although he was trying to steer your ideas away from the topic because his speech was actually focused on tax transparency to cut down on the void and so that's what he wanted to talk about but the rest of the financial ministers here in davos they just wanted to talk about the refe
the euro zone's plight will be the subject to close proceedings in the plush surroundings of doubles it comes amid wide attention in europe as the u.k. prime minister tries to smooth ties with the e.u. partners after promising he'd lead britain hold a referendum on whether to leave beginning in ati's case it pilgrim reports. in davos switzerland those currency only agenda and most anticipated speech of the day they had to come from british prime minister david cameron of the he announced a...
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Jan 25, 2013
01/13
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the euro hitting a 11-month high versus the dollar after the ecb said banks will pay back loans faster than expected. euro rising to $1.34 in intraday trading against the greenback. >>> new home sales as we mentioned before falling last month dropping to an annual rate of 3509,000. that is last month's drop did not derail the previous gains. housing sales posted the best year since 2009, jumping 20% from a year ago, sandy. >> we have our market panel. jeff saut, chief investment strategist at raymond james. david steinberg, dls capital managing partner. let's first start with mark. the take on the rally here. it is good news, bad news. this market seems to want to continue to plow higher. >> absolutely. we have some tax clarity. we have some debt ceiling clarity. you give the market clarity, and improving economic numbers and decent earnings season hard for us not to rally higher. you know, we're closing over 1500. we closed over 1500 under monday. i think that is really bullish for the next couple of weeks at least through friday's employment numbers. i want to point out something rea
the euro hitting a 11-month high versus the dollar after the ecb said banks will pay back loans faster than expected. euro rising to $1.34 in intraday trading against the greenback. >>> new home sales as we mentioned before falling last month dropping to an annual rate of 3509,000. that is last month's drop did not derail the previous gains. housing sales posted the best year since 2009, jumping 20% from a year ago, sandy. >> we have our market panel. jeff saut, chief investment...
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Jan 28, 2013
01/13
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the euro/dollar, weaker by 0.1%. 1.3453 is that level. yen, of course, this is down by about 0.2% to 90.70. we were looking at that 91 level earlier. for more on what's been happening across asia and especially in japan, let's get straight out to will i sixuan. she joins us now from sing pore. >> thank you, kelly. a lot of focus, indeed, on shinzo abe's first policy speech where he continued to pressure the boj to achieve the 2% inflation target as soon as possible. earlier today, the new cabinet raised the country's growth forecast to 2.5% a year from april. but the nikkei saw some profit taking today after touching a fresh 32-month high. question over domestic earnings weighed on sentiment. despite winning back the world's top sales crown from general motors, they didn't get a lift. but sony shares jumped 9% after citigroup's upgrade and on reports that china is considering ending a decade-long ban on video game consoles. sentiment boosted by news that chinese industrial profit climbed to 17% in december from a year ago. brokerages rall
the euro/dollar, weaker by 0.1%. 1.3453 is that level. yen, of course, this is down by about 0.2% to 90.70. we were looking at that 91 level earlier. for more on what's been happening across asia and especially in japan, let's get straight out to will i sixuan. she joins us now from sing pore. >> thank you, kelly. a lot of focus, indeed, on shinzo abe's first policy speech where he continued to pressure the boj to achieve the 2% inflation target as soon as possible. earlier today, the new...
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Jan 1, 2013
01/13
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showing all of the symbols of the euro? it showed a cross, star of david and so on and a hammer and sickle. there is a bit of an outcry from the lithuanians. and i ask why does it take the lithuanians, why aren't we in the west sympathetic enough to the persecuted under communism to object ourselves? white -- why would we leave it to them? i am relaxed about these symbols. we see a guy what they cccp with hammers and sickles and i once did a study on this on a simple magazine piece and some people say it's proof. it's kind of funny. you know, you don't see the pictures on t-shirts. it's just a t-shirt. as andrew daniels points out if we only took one good picture in this life he looks like a moon star and he got his cheekbones just right but it wasn't all that much, honestly. this is all regarding chambers, but he was a witness and a truth teller and it was really hard for him to forsake not popular approval but the approval of the people that mattered was colleagues and journalism and what we might call the liberal establi
showing all of the symbols of the euro? it showed a cross, star of david and so on and a hammer and sickle. there is a bit of an outcry from the lithuanians. and i ask why does it take the lithuanians, why aren't we in the west sympathetic enough to the persecuted under communism to object ourselves? white -- why would we leave it to them? i am relaxed about these symbols. we see a guy what they cccp with hammers and sickles and i once did a study on this on a simple magazine piece and some...
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Jan 25, 2013
01/13
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germany and greece are both still in the euro area. despite all the doom and gloom from last year, those big catastrophic event did not happen. i think it is the fading of that risk that is helping the market today. it was not just last year. the most accurate industry is actually mineralogist. they are about the only guys that get it right. we pretty much know what the weather is going to be. it is tough to kind of, know what to expect in the new year other than that the opposite. >> i do not know about always wrong, but it certainly is true that forecasters do not have a great record. connell: what are you expecting this year. it could be a completely different environment. many of those doomsday people are still expecting a mess, politically. after a while, you start to say, when will be the time that we do not get a last-minute deal? there is some percentage that fear that. is it reasonable? >> i think that is true. there certainly are some possibilities. the real fear has been kind of dissipating from the market. for example, we h
germany and greece are both still in the euro area. despite all the doom and gloom from last year, those big catastrophic event did not happen. i think it is the fading of that risk that is helping the market today. it was not just last year. the most accurate industry is actually mineralogist. they are about the only guys that get it right. we pretty much know what the weather is going to be. it is tough to kind of, know what to expect in the new year other than that the opposite. >> i...